Sky Harbour Group (NYSE:SKYH) Trading Up 1.1% – Still a Buy?

Sky Harbour Group Co. (NYSE:SKYH)’s share price shot up 1.1% during mid-day trading on Friday . The company traded as high as $9.34 and last traded at $9.22. 99,006 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 181,632 shares. The stock had previously closed at $9.12.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SKYH. BTIG Research reiterated a “buy” rating and issued a $13.00 target price on shares of Sky Harbour Group in a research report on Tuesday, March 24th. Weiss Ratings cut Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Finally, Noble Financial upgraded Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Sky Harbour Group Stock Performance

The firm has a market capitalization of $705.61 million, a P/E ratio of 230.50 and a beta of 1.32. The firm has a 50 day simple moving average of $9.81 and a two-hundred day simple moving average of $9.41.

Sky Harbour Group (NYSE:SKYH) last issued its earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%.The company had revenue of $8.73 million during the quarter, compared to the consensus estimate of $9.96 million. Sell-side analysts anticipate that Sky Harbour Group Co. will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other Sky Harbour Group news, major shareholder Omaha Corp Boston sold 331,500 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $9.05, for a total value of $3,000,075.00. Following the sale, the insider directly owned 8,666,163 shares of the company’s stock, valued at approximately $78,428,775.15. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew J. Gessow purchased 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the acquisition, the director owned 17,910 shares of the company’s stock, valued at approximately $160,294.50. This represents a 38.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 40.77% of the stock is owned by insiders.

Institutional Trading of Sky Harbour Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Sky Harbour Group by 32.1% in the 2nd quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock worth $4,548,000 after purchasing an additional 112,994 shares during the period. Rhumbline Advisers boosted its holdings in shares of Sky Harbour Group by 185.5% in the 2nd quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock worth $326,000 after purchasing an additional 21,708 shares during the period. American Century Companies Inc. boosted its holdings in Sky Harbour Group by 64.9% during the 2nd quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock valued at $333,000 after acquiring an additional 13,434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sky Harbour Group by 68.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock valued at $114,000 after acquiring an additional 4,721 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Sky Harbour Group by 173.7% during the 2nd quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock valued at $6,863,000 after acquiring an additional 445,828 shares during the period. Institutional investors own 14.75% of the company’s stock.

About Sky Harbour Group

Sky Harbour Group Inc is a U.S.-based real estate development and operating company focused on private aviation infrastructure. The company specializes in the acquisition, design and management of fixed-base operations (FBOs), aircraft hangarage and private terminals that serve business and general aviation operators. By providing expedited ground handling, concierge services and state-of-the-art facilities, Sky Harbour seeks to streamline the operations of private jet owners, fractional-ownership programs and charter operators while reducing congestion at major airports.

Through strategic leases and joint-venture partnerships, Sky Harbour has established a growing presence at key regional and metropolitan airports across the United States.